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Three Quick Facts: Bellway, Ocado and Xaar


Three things you need to know in the financial markets today from investment writer, Tony Cross.

#1. Bellway: modest uptick in revenues but average selling price falls

Interim results for the housebuilder Bellway LON:BWY have posted a modest uptick in revenues although margin erosion is weighing on profitability. Given the challenging underlying conditions, management see this as something of a win and have also announced today the start of a £100m share buyback scheme. The company notes that reservation rates are above those seen in the quarter ending 31st December and that if momentum is sustained then it expects volume output of around 11,000 properties for the year.

#2. Ocado quarterly revenues advance – but well below inflation

Ocado LON:OCDO has a trading statement out today, noting a 3% uptick in retail revenues although the average basket size has fallen some 7.5%. Customer numbers are increasing apace but given the well reported impact of food price inflation, it seems there’s still work to be done here. The company expects the guidance issued at the end of last month to remain intact with marginally positive EBITDA for the full year being recorded.

#3. Xaar: bumper profit uptick

Xaar LON:XAR, the leading inkjet printing business, has today issued full year results. Revenues are up 23% with gross profits advancing 42%. Management are upbeat that despite the macroeconomic uncertainty, the growth trajectory can be sustained.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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